The total external debt increased, in January 2024, by 4.314 billion euros, up to 173.126 billion euros, and the current account deficit grew by 78.7%, to 1.358 billion euros, the National Bank of Romania informs on Friday through a press release."The current account of the balance of payments recorded a deficit of 1,358 million euros, compared to 760 million euros in January 2023. In its structure, the balance of goods recorded a deficit smaller by 229 million euros, the balance of services recorded a smaller surplus by 351 million euros, the primary income balance recorded a deficit of 376 million euros compared to a surplus of 27 million euros in January 2023, and the balance of secondary incomes recorded a smaller surplus by 72 million euros," the press release reads.According to the source, with regard to external debt, the long-term debt amounted to 125.244 billion euros on January 31, 2024 (72.3% of the total external debt), up by 3.4% compared to December 31, 2023, and the debt in the short term reached the level of 47.882 billion euros (27.7% of the total external debt), increasing by 0.5%.The long-term external debt service rate was 11.2% in January 2024, compared to 17.4% in 2023.The degree of coverage of imports of goods and services on January 31, 2024 was 6.3 months, compared to 5.6 months on December 31, 2023.The degree of coverage of the short-term external debt, calculated at the residual value, with foreign exchange reserves at the BNR on January 31, 2024 was 99.9%, compared to 97.4% on December 31, 2023.
On Thursday, January 23, the European Commission granted a protected geographical indication status to Romania’s Jidvei wine. The new status offers recognition for the distinctive qualities of the wine. The brand encompasses white, rosé, red, sparkling, semi-sparkling, and liqueur wines produced from grape varieties grown in the Alba region, in central-western Romania. The vineyards in […]
Romania's pavilion at the Osaka World Expo 2025, which will take place from April 13 to October 13, was built with a focus on sustainability, including contributions from Romanian workers. The pavilion also highlights Romania's national resources. The mascot for the expo is a pelican named Haru (meaning "spring" in Japanese), symbolizing the importance of […]
Examin, a Romanian startup specializing in AI-powered video analytics, has secured EUR 200,000 in pre-seed funding from a private investor. The funds will be directed toward a market-ready product, creating an AI-driven prototype for quality inspection in manufacturing processes (AI Quality Inspection), developing its first AI Video Analytics camera, expanding the team, and scaling marketing […]
The beginning of 2025 brought increased pollution in the Bucharest-Ilfov area, as traditional pollutants such as cars and heating systems met low wind speeds, high humidity, and thermal inversion. The latter three prevent pollutant particles from dispersing and instead keep them at ground level. As a result, the level of pollution has doubled in the […]
Update: DNA confirmed that Sinaia mayor Vlad Oprea had been detained for 24 hours beginning January 23 on charges of bribery in continuous form, conducting financial operations incompatible with his position, false in asset declarations, abuse of office, and influence peddling. The prosecutors also said that Oprea indirectly received a total bribe of EUR 238,000 […]
Prosecutors from Romania's National Anticorruption Directorate (DNA) reportedly detained Vlad Oprea, the mayor of the popular mountain town of Sinaia, for 24 hours on Thursday, January 23. He faces corruption charges in a case investigated by the DNA, with further searches set to take place at the Sinaia City Hall later today, in the presence […]
